For-ex reserves cross $57-bn mark in India

INDIA - India's foreign exchange reserves have shot up by half a billion dollars in one week to cross the $57 billion mark during the week ended 21 June.

Dollar buying by the Reserve Bank of India may have caused a spurt in reserves which have been growing at a slow pace for sometime.

According to figures released by the Reserve Bank of India in its weekly statistical supplement (WSS), total foreign exchange reserves including gold and SDR, went up $542 million during the week ended 21 June to